Morgan Stanley upgraded shares of Haemonetics (NYSE:HAE) from an equal weight rating to an overweight rating in a research note published on Tuesday, January 2nd, Marketbeat Ratings reports. The firm currently has $51.00 price objective on the medical instruments supplier’s stock.
HAE has been the subject of several other reports. Zacks Investment Research lowered shares of Haemonetics from a buy rating to a hold rating in a report on Monday, November 20th. Craig Hallum reiterated a hold rating and issued a $50.00 price target (up from $40.00) on shares of Haemonetics in a research note on Wednesday, November 8th. Finally, Barrington Research increased their price target on shares of Haemonetics from $48.00 to $57.00 and gave the stock an outperform rating in a research note on Wednesday, November 8th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and four have issued a buy rating to the stock. Haemonetics currently has a consensus rating of Hold and a consensus target price of $58.83.
Haemonetics (HAE) opened at $64.12 on Tuesday. The company has a debt-to-equity ratio of 0.22, a current ratio of 2.17 and a quick ratio of 1.51. Haemonetics has a 1-year low of $36.44 and a 1-year high of $64.99. The company has a market cap of $3,420.51, a price-to-earnings ratio of 801.60, a price-to-earnings-growth ratio of 4.89 and a beta of 0.99.
Haemonetics (NYSE:HAE) last issued its quarterly earnings data on Tuesday, November 7th. The medical instruments supplier reported $0.48 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.41 by $0.07. Haemonetics had a net margin of 0.50% and a return on equity of 11.16%. The business had revenue of $225.40 million during the quarter, compared to analyst estimates of $219.12 million. During the same period in the prior year, the business earned $0.38 EPS. The company’s revenue for the quarter was up 2.3% on a year-over-year basis. sell-side analysts predict that Haemonetics will post 1.69 earnings per share for the current fiscal year.
In related news, Director Susan Bartlett Foote sold 16,926 shares of the stock in a transaction dated Friday, November 10th. The shares were sold at an average price of $54.19, for a total value of $917,219.94. Following the completion of the transaction, the director now directly owns 27,313 shares in the company, valued at approximately $1,480,091.47. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO Dan Goldstein sold 4,691 shares of the stock in a transaction dated Monday, November 13th. The shares were sold at an average price of $54.93, for a total transaction of $257,676.63. Following the sale, the chief accounting officer now directly owns 3,747 shares in the company, valued at $205,822.71. The disclosure for this sale can be found here. Over the last quarter, insiders sold 54,486 shares of company stock valued at $3,050,827. 1.20% of the stock is owned by company insiders.
A number of hedge funds have recently made changes to their positions in the stock. GSA Capital Partners LLP grew its position in Haemonetics by 377.6% during the 3rd quarter. GSA Capital Partners LLP now owns 44,210 shares of the medical instruments supplier’s stock valued at $1,984,000 after purchasing an additional 34,953 shares during the last quarter. Neuberger Berman Group LLC grew its position in Haemonetics by 10.2% during the 3rd quarter. Neuberger Berman Group LLC now owns 2,053,458 shares of the medical instruments supplier’s stock valued at $92,139,000 after purchasing an additional 189,797 shares during the last quarter. California Public Employees Retirement System grew its position in Haemonetics by 9.2% during the 3rd quarter. California Public Employees Retirement System now owns 100,558 shares of the medical instruments supplier’s stock valued at $4,512,000 after purchasing an additional 8,458 shares during the last quarter. Janney Montgomery Scott LLC grew its position in Haemonetics by 3.8% during the 3rd quarter. Janney Montgomery Scott LLC now owns 51,256 shares of the medical instruments supplier’s stock valued at $2,300,000 after purchasing an additional 1,879 shares during the last quarter. Finally, Cubist Systematic Strategies LLC grew its position in Haemonetics by 31.6% during the 3rd quarter. Cubist Systematic Strategies LLC now owns 8,677 shares of the medical instruments supplier’s stock valued at $389,000 after purchasing an additional 2,082 shares during the last quarter.
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Haemonetics Corporation (Haemonetics) is a healthcare company. The Company provides various products to customers involved in the processing, handling and analysis of blood. The Company’s segments include Japan, EMEA, North America Plasma and All Other. Haemonetics provides plasma collection systems and software, which enable plasma fractionators to make pharmaceuticals.
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